Microhoo No More: What the Analysts are Saying

Mostly, there's a lot of nervousness about what will become of the Sunnyvale search engine. At least one investor is calling for shareholders to withhold their votes for the current directors. Eric Jackson, who represents 140 shareholders who collectively own 2 million shares of Yahoo stock, said that the board didn't negotiate in good faith. He expected Yahoo shares to be trading at $19-20 per share when the stock market opened this morning.

Until then, Wall Street is punishing Yahoo for its rejection of Microsoft's offer, though not quite as severely as Mr. Jackson expected. RBC Capital Markets Internet analyst Ross Sandler dropped the price target on Yahoo to $27 from $32. Expect to see agreement on this valuation. Overseas, the stock price dropped, an action echoed at the Opening Bell on Wall Street this A.M. At the time of this post, YHOO stock was down to $23, after closing on Friday at $28.67.

The U.K. Supreme Court has granted permission in part for Google to appeal against a ruling relating to a dispute over the user information through cookies via use of the Apple Safari browser.
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